HITE Hedge Asset Management LLC Takes Position in Visteon Corporation $VC

HITE Hedge Asset Management LLC acquired a new position in Visteon Corporation (NASDAQ:VC) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 42,001 shares of the company’s stock, valued at approximately $5,034,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Visteon in the third quarter valued at approximately $30,000. USA Financial Formulas bought a new position in Visteon in the 3rd quarter worth approximately $44,000. EMC Capital Management acquired a new stake in Visteon in the 2nd quarter valued at approximately $45,000. Plato Investment Management Ltd bought a new stake in Visteon during the 3rd quarter valued at $48,000. Finally, Hantz Financial Services Inc. boosted its position in Visteon by 72.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock worth $51,000 after acquiring an additional 177 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VC has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Visteon from $95.00 to $114.00 and gave the company an “equal weight” rating in a report on Monday, December 8th. Royal Bank Of Canada dropped their price target on shares of Visteon from $140.00 to $127.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Robert W. Baird decreased their price objective on shares of Visteon from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Wolfe Research lowered shares of Visteon from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft set a $117.00 target price on Visteon in a research report on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.33.

Visteon Stock Performance

NASDAQ:VC opened at $90.24 on Friday. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $129.10. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $96.67 and a 200-day moving average of $106.05. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.09 and a beta of 1.15.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, February 19th. The company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.88. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The business had revenue of $948.00 million for the quarter, compared to the consensus estimate of $920.25 million. During the same period in the previous year, the firm earned $4.44 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.7%. This is a positive change from Visteon’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 2nd. Visteon’s dividend payout ratio (DPR) is presently 15.91%.

Insider Activity

In other news, CEO Sachin Lawande sold 49,453 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the completion of the sale, the chief executive officer owned 175,527 shares in the company, valued at approximately $16,401,242.88. This represents a 21.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Visteon Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.